Tag: Zions Bancorp N.A.
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Regional-bank stocks move up after PacWest deal suggests stabilization in sector
[ad_1] Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. “The implied take out price of $9.60 is higher than many estimated, with ‘[PacWest] resolution’ a net positive for the banking sector,” KBW…
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Megabank profits on tap after eventful Q2 of bank failures and climbing interest rates
[ad_1] JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. kick off second-quarter earnings season Friday after one of the choppiest three-month periods for the banking sector since the global financial crisis. Bank of America Corp. BAC, +0.46% and Morgan Stanley MS, +0.05% will provide their second-quarter updates on July 18, followed by…
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PacWest, Western Alliance stocks rise as Hovde Group calls ‘near bottom’ in sector after potential ‘market manipulation’
[ad_1] Hovde Group analysts on Friday said bank stocks offer a “rare entry point” as they called a potential bottom to the steep selloffs in the sector amid speculation about further bank failures despite updates from regional banks on deposit strength. “There is nothing new fundamentally occurring with bank system deposits (other than the already…
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Bank stocks’ volatility draws scrutiny for potential market manipulation: report
[ad_1] State and federal authorities are looking into the possibility of market manipulation behind recent volatility in bank stocks, according to a report Thursday. Reuters reported that the wild stock swings and increased short-selling activity for banks that have solid fundamentals, including sufficient capital, have drawn the attention of state and federal officials and regulators,…
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Moody’s downgrades U.S. banks one notch as credit strength ebbs
[ad_1] Moody’s Investor Service has revised its outlook the U.S. banking sector by one notch as the sector faces higher interest rates, funding risks and less credit strength, on the heels of earnings updates from financial firms in recent days. Citing deterioration of the operating environment and pressure on profit margins, Moody’s late Friday cut…
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First Republic bond prices suggest rocky road ahead for bank as it readies Q1 results
[ad_1] Trading in First Republic Bank corporate debt signals a rise in bearish sentiment for the bank in the weeks leading up to its first-quarter earnings update on Monday. Yields on First Republic Bank’s FRC 4.375% 2046 bonds steadily climbed in early April to nearly 10% on April 16, up from about 9% early in…